Takes back most of the gains
The USDCAD is down testiing the 100 hour MA at 1.3180 in what has been an up and down trading day for the pair. The pair moved higher in the Asian session peaking ahead of the September 8 and September 9th highs at 1.3253 and 1.32589 respectively. The high reached 1.32462.
The choppy move lower in the NY session has seen the waffle above and below, a swing area between 1.32015 and 1.32067.
What now?
Traders will want to see the price move back below the 100 and 200 hour MA at 1.31725 and 1.3180. Below that and the pair has dipped more to the bearish side.
